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to their center-right readers. and we'll see if jeff bezos can change that with his new "washington post." another week, another so-called major speech from president obama. he says he's ending fannie mae and freddie mac. but i see at least one if not two new government insurance plans. is anything really changing here besides rhetoric? and as the time warner/cbs blackout continues here's the big question. will this speed up the demise of the cable tv model? more and more americans are looking into cutting that cord. all those stories and much more coming up in "the kudlow report," beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." first up tonight, a major shake-up at two of the country's most influential newspapers. after four generations of family ownership the "washington post" is selling to amazon ceo jeff bezos. this coming on the heels of the "new york times" fire sale of the "boston globe," unloading the paper to red sox owner john henry for seven cents on the dollar. so what do the "washington post," "the new york times," "the boston globe," an
/11. after the bell stunner, jeff bezos buys "the washington post" for $250 bucks. and the bankrupt city of detroit starts the process of putting its priceless museum artwork up for auction. you wouldn't believe how much it could be worth. all those stories and much more coming up on the "kudlow report" right now. good evening, i'm larry kudlow. this is the "kudlow report." first up tonight, breaking news, jeff bezos paying $250 million for "the washington post" newspaper. a few days ago boston red sox owner john henry bought the "boston globe" for the bargain basement price of only $70 million. what is going on here? why will these foes succeed while others have failed. joining us is our own julia boorstin. why will they succeed where others have failed in. >> i think the question is how do you define success? one thing jeff bezos makes very clear in his letter about this and it was also in the press release is that he's not investing this just as a financial endeavor but he sees this as supporting journalism. he says "i understand the critical role the post plays in washington, d.c. an
through this summer, the markets have been pretty resilient. meanwhile another conflict in washington gearing up. the fight over debt ceiling, government shutdown, sequester, taxes all that continues. meetings between the gang offing eight and white house negotiators broke down. all that and more coming up on "the kudlow report" beginning right now. >>> good evening, everyone i'm larry kudlow. this is the cut low report. you heard my interpretation of today's speeches. john kerry talked tough in a stroke and brilliant speech. president obama on the other hand seemed to walk it back. let's go cnbc john harwood. he's live in washington for us this evening. first of all, thank you, john and second of all, good evening. what can you tell us? >> reporter: i don't think president obama was walking back those remarks from john kerry. they had different missions. we saw an acceleration of a momentum for a military strike on syria. john kerry came out saying the u.s. had evidence that syria had weapons to kill 1400 people. president obama tried reassure the american people that any u.s. respon
will come off a little bit and maybe that helps some, but we've got a huge washington cloud. >> hold that thought. i'm going to get to that thought. i want to go to carl on this. i don't know whether you share our view or not, but it isn't so much that 162 is 25,000 less. it's things like, you know, half the jobs that were created came from retailers and restaurants and it's the very low-end wages and the fact that the part-timers are beating the full-timers. that's what troubles me. >> larry, in every economic cycle, the low-skilled jobs are the first ones that are shed in economic downturns and they tend to be the first to come back when the economy rebounds and we can also look at unemployment levels based on the level of college education. so the phds, tend to have higher quality jobs than someone who hasn't completed a high school degree and that's why there's such a higher level of unemployment in the demographic. it's been four years plus from the bottom of the jobs recession and it's been four years plus. we ought to be knocking out, frankly, 300,000, 400,000 a month in all o
, bill, it's going to come down that decision right as washington is dealing with the fiscal standoff that we got coming on and that could provide an added wrinkle because larry summers, without doubt will be confirmed if nominated by the president but might be more difficult and more static than janet yellen and the president has to figure out how much political capital he wants to invest in that. >> indeed. john harwood, good job. thank you. >>> we do have a confluence of events coming this fall, ron not only choosing the new fed chair but the debt ceiling is still to be dealt with, the budget. obama care will have to be coming up in many areas. a lot of things to be dealt with all at the same time that will have a meaningful impact. >> the fed stuff is central. larry summers has voiced to a certain extent and this came back his distaste to quantitative easing. look, if i had to do it, i have a dream speech about the fed right now, ben bernanke staying for a third term. larry summers is known to be a bull in the china shop. there's a much different process in the fed than there migh
of times here and in washington people talk about austerity. what you really need to do, i believe, in our states and in our nation's government is reform. we made things work better. we didn't just cut things. if you cut things, then things that we genuinely need to have happen get cut just as much as things that don't. we reform things, we put things back in the hands of the taxpayers. let me give you a good example. not just the state level but before under collective bargaining most of our school districts had to buy their health insurance from just one company. today because of reforms they can bid that out and that's saving them tens of millions of dollars. that's money that goes right back in the classroom. that's real reform that isn't just about cutting spending, it's about making the government work better. >> just basically a couple other points on this. you are not participating in what may or may not be obama care. i don't know if the thing's going to die of its own weight or not. you're not buying into the medicaid expansion. you're not buying into the insurance exchanges. >>
and gold higher. we'll have the latest on this developing story from damascus to washington to weight. >>> another developing story, the debt ceiling battle is heating up. treasury secretary jack lew has sent a letter to boehner, warning twha the debt limit will be r50e67d in october. how will the gop respond? and don't forget about the economy. more evidence out today there will be no second-half economic rebound. does that push the fed taper way back? might your mortgage rates be coming back down? all those stories and more coming up on "the kudlow report", beginning right now. >>> this is "the kudlow report." first up, the u.s. getting closer and closer to military intervention. secretary of state john kerry left little room for doubt. nbc news's steve handelsman has the details. >> good evening, larry. keep in mind the united nations investigation is not complete. this is the unilateral conclusion of the obama administration, presented dramatically today by a man not usually given to public shows of emotion, u.s. secretary of state john kerry stating it is america's conclusion tha
. good evening, steve. what can you tell us. >> reporter: critics in washington are complaining that president obama delaying any u.s. military response, if, in fact, he ever orders one and is giving a green light to syria's government to use chemical weapons again, but that wait might -- might soon be over. here is a clue from former top obama adviser david axelrod who is still wired in the white house from chicago. axelrod said today he expects the president will take action. maybe a surgical strike says axelrod, maybe setting up a no-fly zone and maybe setting up a possible cruise missel strike and the president himself suggested that now, u.s. national security is at stake. he says if chemical weapons were used, the u.s. forces in the region, not clear exactly which forces he's talking about might be in danger and the president cited a worry about proliferation, spreading chemical weapons. presumably that could happen and by the rebels seizing chemical weapons and turning them over to al qaeda. here's what he said on cnn. >> there is no doubt that when you start seeing chemi
and now it looks like a battle royal is brewing in washington, d.c. these stories and many more coming up in "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." in a major developing story, nbc news is reporting a strike against syria could come as early as thursday. aids say president obama and no longer questions if the syrian government used chemical weapons. the questions are what will the u.s. do and with who's help. nbc's richard engel joins us now from the turkey/syria border with all the latest details. good evening, richard. >> reporter: larry, syria is showing no signs by being deterred of all of this talk of military action. in fact, just yesterday there was another attack that rebels say used chemical agents. a white phosphorous attack that doctors say killed at least 12 people. white phosphorous technically isn't a chemical weapon, but it is illegal if it's used to kill people. it's a burning agent, a burning smoke used by many militaries. in this case it was dropped on civilians according to the rebels. today sy
that the characters have changed that much in washington. >> the republicans have learned they've not going to shut down the government. because shutting down the government is the stupidest damn thing in the history of the earth. i know they're republicans, but i don't think they're going to be that stupid this time. >> i hope you're right, because it was so ugly last time. and i don't want to go through it again. and by the way, we ended up getting through that and making up that ground because economic growth was trending up. it's not doing that right now. i think it could even be worse this time if they make that same mistake. >> you're still monumental bear on the stock market. i'm going to give you the last word. >> well, larry, you said before the one thing i am is consistent and i am still consistent. i am still expecting a 20% correction and i think it will really start in earnest this year. >> you know what troubles me? a, what troubles me is you might be right. but b, you have a lot of tweets. i see your tweets. a lot of people. what do they call you, the chart -- >> the chartress. >> i
. if you want to shoot some slings and arrows, shoot them at the smoke screens we get out of washington or shoot at the federal reserve board that's manipulated the markets more than any other entity in the history of financial markets. but the reality is if you're not going trade because of this kind of thing then you're not a serious investor. the markets are doing pretty well. stocks have done pretty well. you need to look at these things and while these systems need to be improved, that's not retail investors or institutional investors really need to be focused on. >> jeff, we don't know, we don't have foresight but what do you think will happen tomorrow? i mean the price action today was good. i don't know if the nasdaq rallied the last half hour is credible or not. i don't know if all the rises are workable or not. let's assume they are. what your looking for tomorrow? >> a lot of people shrug this off due to the fact the markets were up today. just because there was no harm and no foul i think they really have to look into this. so tomorrow we're going to be interested to see wha
things to richard engel. let's head back to the washington for the very latest military plans. for that we're joined by "wall street journal" national security reporter dion nissbaum. i don't know if you heard richard engel's reports, now all of a sudden the syrian officials want the u.n. inspectors to stay forever. how should we all interpret this? >> i think that the administration has to factor in what happens with the u.n. inspectors. the administration is ready to go. the pentagon has the war ships in place with cruise missiles, which is expected to be the ships used for the limited strikes that they're talking about now, but they are going to be looking at how long the inspectors are going to stay there. they're supposed to say through sunday, as you said. president obama is supposed to go off to the g-20 summit on tuesday in russia. russia is obviously a key playe. tomorrow we could see some intelligence from the administration that lays out part of the case. so i think it will still be a few days before we see any strikes. >> is there any doubt in your mind or the mind
married couples. >>> big stuff out of washington. thank you, mary. we appreciate it. >>> now, sure they work hard, about you should young, inexperienced fast-food workers get paid $15 an hour like they protesters are demanding? we will debate market realities and economic sanity just ahead on "the kudlow report." when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards.
it that we have a spending cut going on this washington, d.c.. i think we should have more spending cuts. but i want to get your take not only on the usa, but also we have better trade numbers out of china both imports and exports. japan has been producing better numbers, i'm not saying any of this is perfect. even europe is showing up, their purchasing managers look a little better, germany's production looks better. is it possible that even europe is improving? >> the firm view at deutsche bank is that europe will get recession this year, so i agree the european data look better. the case is the same with japan. certainly the global economy looks better. and part of that is the u.s.. the u.s. economy is firming. still awfully weak, but it is getting better. having said that, the corporate sector is vexcellent. interest rates have risen a percentage point, but they're still awfully low. we had the same kind of move back in 2003. and '04/05 growth was excellent. >> why is it gdp stinks? why are there so many people working part time? i'm actually a real list. realist. >> we've had the be
banks like the excess reserve cushion. the demand for cash is huge. by the way, all of washington is wagging war against jpmorgan and a lot of banks. that's another bad factor and the economy ain't great. why does the fed have to do anything. long term rates will do what they're going to do. why does the fed have to do anything right now? >> well, what they're trying to do, and i said this on cnbc back in april, is that the qe itself for the united states and around the world created these dislocations, these asset bubbles. there was billions of dollars that flew into high yield leverage loans, all of these speculative investments. coveted light loans. i talk about this in my book. there was an explosion in coveted light loans. the riskiest loans. that was exploding in '07. that was exploding this year. the reason they started the taper talk on may 22nd -- >> for the bubbles. >> the market is doing that for them. it may be nasty. let me ask steve before i lose you. do you see a great second half rebound? >> no. >> the fed said it did. you look carefully in today's minutes. half of
of what people have always talked about in private quarters, sometimes while smoking a joint in washington and that is that everybody knows it doesn't work. and it's ruined millions and millions of lives and people laugh about it. >> what do you say pot is the first step to more serious drugs? >> pot is the first step to the presidency we've learned in the last three presidents here. what we've seen is prohibition, we saw this with alcohol, prohibition of alcohol created all these pathologist of violence, created al capone and the mob. the same thing has happened with marijuana especially. and it's taken us so long to learn something that has allowed to us shred the fourth amendment and protections we've had previously. >> joe do you agree with that? i would add to that and tell me what you think of this. whenever you have deep demand for something, someone is going to meet that demand. we learned that with alcohol. someone is going to have to pay a lot of money and a lot of violence. >> i'm not in favor of legalizing marijuana. that's not what this debate or i thought this show was about.
think washington is going to be all screwed up when they come back from the august recess. i mean, completely screwed up. and i know this is a family station so i'm not using a worser word. all i'm saying is the possibilities of some insanity, whether it's defunding obama care which i want to end the defunding is not the way to do it. a shutdown, a continuing resolution that never gets done, some messing around with the debt ceiling, that's stuff that i would be worried about, jeff, because that stuff can really screw up our markets and global markets. >> there are definitely issues around that, larry. we've gotten over a lot of those big issues in the first half of the year and kicked the can down the road did not seem to mess up the market too bad. remember, who is doing the buying. it's the big corporations that have done all of the buying this year. buybacks in the second quarter were $257 billion. they are going to keep buying whether we get a continuing resolution or not. whether we get a debt ceiling lift or not. that tremendous type of buying lift to the market, going to c
farr miller in washington. he recently penned this piece, taking stock of s&p earns. take out the banks, michael and it's zero, no profits at all? >> it's pretty close to zero not on the profit side really but on the revenue growth side, larry. you and i have been talking about how long you can continue to grow earnings if we don't grow top line revenues and the earnings we saw positive up 28% would have been about, i mean still a little positive without the financial, which are about 16% of the s&p 500, but on the financials on the revenue side it was up 8.6% compared to 2.9% in the first quarter and a lot of those earnings came from draw downs against reserves. it wasn't so much they were expanding business lines, but they were reaping some of the profits of excess reserves. >> so what does that say about the rest of the s&p 500? what you're saying is profits were flat. you said they were negative. >> the way we execute earnings if you exclude the financials it was negative. >> excludeing financials growth was either flat or slightly negative. >> not good. >> that's the point. michael
to airline mergers. what's it going to take for washington to stand down just once, please? that's next. [ marco ] i'm a student at devry university. and this is my home team. this is my large lecture hall. this is my professor. and also my coach. this is my booster club. this is the guy who's graduating ready for a great career in technology. [ male announcer ] in 2012, 90% of devry university grads actively seeking employment had careers in their field in 6 months. join the 90%. learn how at join the 90%. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with the geico mobile app. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. >>> tonight, we have several examples of
. >> that traffic is horrendous tonight. big accident on the george washington bridge. >> just agree with what i said. >> i'm blake. nice to meet you. >> should we continue to try to bail out the post office or the postmaster general says he doesn't need it anymore, he's got other ideas. end saturday delivery. do you even care about saturday delivery? do you -- i don't care about getting mail every day. it's junk mail, catalogs, credit card applications. okay. let's move on. >> talk about traffic. >> so judges, 87 judges have written to -- >> can i say something about the post office? >> go for it. >> if i may? what's really interesting, i don't know if you guys covered this already, is do you know the trouble we're in with the post office? >> because of the pension system. >> who did that? >> congress. >> which congress? >> probably under bush. >> right. >> considering you're a liberal. >> but this is an interesting thing. let me tell you something. bush asked his republican congress to do this, because it was a poison pill. the idea was put this thing in where you have to pay for 75 years of t
Search Results 0 to 19 of about 20